I paid more tax on my Spanish rental income last quarter – could it be because of Brexit? Have my tax rate and deductible expenses changed?
Reviewed by Toni Faura · Last updated:
In short. Yes. Since Brexit, UK residents pay 24% on gross Spanish rental income with no deductible expenses, instead of the 19% rate with expenses that applies to EU residents.
Non-resident owners of property in Spain who live in the European Union and let out that property pay tax at 19% and are allowed to deduct expenses. Following Brexit, Britons are treated as non-EU for tax purposes, so the rate on this income is 24%, with no option to deduct expenses related to the property.
Related service: Declaration of real estate rentals
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Disclaimer. These questions and answers have been prepared based on specific cases which may not be of general application. If you would like personalised advice, please contact us, as the answers may not apply to your particular case and could lead to a detrimental result or one contrary to the law. The company accepts no liability for the content of these questions and answers, since any decision requires a tax study of each specific case.